Business & Tech

Beltway Plaza To Offer New Small Businesses Incubator Space

Artists, financial planners, crafters and other start ups will be considered for mall space at rates tailored to their sales, according to a plaza official.

Beltway Plaza is giving the little guy and gal a break by opening up the possibility of discounted store-front and kiosk space to artists or entrepreneurs who are starting out.

It's worked before on a property in Langley Park formerly known as International Mall, now La Union Mall, according to Kap Kapastin, general counsel for Beltway Plaza. Commercial retailers and office users leased the mall's large spaces, but some of its smaller spaces have become available as incubators.

Those taking the mall up on its offer were mostly small retailers, selling goods and services like arts and crafts, apparel, and financial planning. Three out of 10 budding entrepreneurs succeeded and went from renting to leasing space, according to Kapastin.

"This is exploratory," Kapastin said in an interview Tuesday, explaining that spaces will be rented month-to-month. Renter costs will include utilities and some type of licensing fee, but are likely to be calculated by considering the expenses and anticipated sales, according to Kapastin

The expenses for something fairly static like an artist or office space retailer won't be very high, but a restaurant with cooking uses more electricity, gas and water, so it will run higher, according to Kapastin.

Entrepreneurs may be able set up in a kiosk in the mall's common areas. Established businesses pay about $1,750 a month for the same deal, but Kapastin said it would cost less than that when offered as incubator space.

"It would depend on the anticipated sales," Kapastin said.

In terms of store fronts, the plaza has some as small as 480 square feet. There are around half-a-dozen spaces above ground that might be available for incubator space along with some basement space beside Burlington Coat Factory that might be outfitted, according to Kapastin.

Entrepreneurs interested in discussing the plaza's incubator space opportunities, may contact Kapastin at kap@quantumco.net or 301-263-8120.

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